How much is too much? Hony Capital set the benchmark for the string of large China-focused funds expected to launch in the next year or so as it closed its fifth vehicle at $2.4 billion. Hony Capital Fund V took barely four months to complete its fundraising, coming in nearly $1 billion larger than its predecessor, which closed in 2008. It is the biggest US dollar vehicle seen in China since Hopu Investment Management attracted $2.5 billion for its one and only fund, also in 2008.
Factor in Hony's second renminbi-denominated fund, which has closed at RMB10 billion ($1.6 billion) - the largest ever independent local currency vehicle - and the private equity firm has more fresh capital...
AMC Entertainment, the US theatre chain controlled by China’s Dalian Wanda Group, will acquire Stockholm-based Nordic Cinema Group from PE firm Bridgepoint and Swidesh media group Bonnier Holding for SEK8.25 billion ($929 million).
GreenSync, an Australian company that has developed smart software for use in electricity grids, has raised A$11.5 million ($8.7 million) in Series B funding from Clean Energy Finance Corporation (CEFC) and Southern Cross Venture Partners.
CapitalG, the investment arm of Google parent company Alphabet, formerly known as Google Capital, has led a $15 million Series B round for Indian math learning start-up Cuemath.
Local Measure, an Australian analytics technology provider servicing the tourism industry, has raised $3.4 million for an expansion effort that will include opening new offices in Los Angeles and Dubai.